Ah, how things look so fresh and clean for social media executives before they have to roll around in the mud of the public markets. Reddit dropped its IPO prospectus Thursday, laying out what we already reported: decent sales growth (21%) and narrowing losses in 2023, with still a solid cash burn ($84 million last year). It also showed Redditâs hopes and dreams, in the form of a $193 million... Read more âș
0
Former parenting vlogger Ruby Franke was sentenced this week and could face decades behind bars after pleading guilty to aggravated child abuse. Before her arrest, Franke posted videos on YouTube promoting a severe style of parenting her six children, including depriving them of food and banning her son from his room so he was forced to sleep on a bean bag for months. The case raises difficult questions about what... Read more âș
0
Mentally, Iâve been in Sweden this weekâthough the quote that best sums up our recent reporting hails from the gritty Baltimore streets of âThe Wire.âMyself and my colleagues Maria and Cory have been grappling with a strange and rare attempted board coup at Klarna, the Stockholm-based âbuy now, pay laterâ company. Rarely are such disputes made public, and itâs certainly strange that Sequoia Capitalâs chief, Roelof Botha, and the broader... Read more âș
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Board members at the struggling local networking site have been debating the companyâs future, including whether to bring in a new CEO or to find a buyer, a person familiar with the matter said. Investment firm Qatalyst has approached companies about their interest, said two people familiar with the matter. The company, which went public in late 2021, has struggled with anemic growth in the past year and a steady... Read more âș
9
JPMorgan Chase has called its former global chief compliance officer out of retirement to help the bank assert its rights as a major shareholder in Greek payments fintech Viva Wallet, after disagreements between the two firms culminated in dueling lawsuits. Frank Pearn, who retired as JPMorganâs top financial and legal risk manager a year ago, joined the Viva Wallet board this week as a nonexecutive director, according to regulatory filings.... Read more âș
7
People close to Klarna founder Sebastian Siemiatkowski say he keeps a very tight inner circle. One of the people he trusts the most is Michael Moritz. So when big Klarna investor Sequoia Capital sought to oust MoritzâKlarnaâs chair, who was a longtime leader of the venture capital firm before leaving last yearâSiemiatkowski went into defense mode. Moritz had clashed with Matthew Miller, a 12-year Sequoia veteran who had just joined... Read more âș
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Thereâs a lot of buzz about âAI hardwareâ and âgadgets.â I want to discard these terms. Theyâre misleading. What you call gadgets or hardware, I see as facilitators of a new era in which low-latency voice becomes the primary way users interact with smart AI: These devices are support infrastructure. This isnât just about devices; itâs about a fundamental shift in human-computer interaction. Artificial intelligence will spur two fundamental changes... Read more âș
0
Googleâs artificial intelligence group is having a moment.After getting its flagship Gemini large language model off the ground and roughly on par with OpenAI, Google on Wednesday appeared to take a sudden lead in a parallel race to develop open-source LLMs, which Meta Platforms has been dominating. In the process, Google also gave a shot in the arm to a branch of AI model science thatâs been bubbling for the... Read more âș
17
Last year was a tough one for venture-backed logistics firms, with a drop in demand for moving goods cratering Flexportâs revenue and forcing Convoy to shutter entirely. But ShipBob, which has the backing of SoftBank and Bain Capital Ventures, may have bucked the trend. The company, which sells Amazon-like warehouse and shipping services to small online merchants, grew its revenue to roughly $500 million last year, said two people familiar... Read more âș
0
In an unexpected move, David Howell, for two decades one of the most consequential behind-the-scenes players in U.S. battery development, will retire next week from the Department of Energy, where he helps to lead the multibillion-dollar U.S. challenge to Chinaâs dominance of the battery industry. One of Howellâs most lasting legacies is conceiving, almost on a lark, the industryâs widely used measure of how much a battery needed to cost... Read more âș
0
All those worrywarts can relax. Nvidia did it again. The AI chip giant reported fourth quarter revenue of $22 billion, $2 billion ahead of its projection, and 265% higher than a year earlier. Even better, Nvidia projected its first quarter revenue would be $24 billion, indicating that growing competition is not yet doing much to dent its rocketship-like growth. The first quarter revenue projection implies growth from a year earlier... Read more âș
0
Cybersecurity providers are facing a moment of truth. After years of persuading companies to spend more on security software, hackers are still getting through. Thatâs giving some companies âcyber fatigue,â and putting them under pressure to buy less, Palo Alto Networks CEO Nikesh Arora said on Tuesday. Other industry executives echoed his comments, which helped spark a sell-off in cyber stocks on Wednesday. âCompanies just donât feel like they can... Read more âș
2
Last week, we published a list of creator economy startups that could be on the market for a new owner because they havenât raised more than a seed round of venture capital in two years and may be running low on cash. Some founders have already pulled the plug on their startups, we discovered.At least eight early-stage startups in The Informationâs Creator Economy Database that havenât raised funding since early... Read more âș
0
Sequoia Capital has picked partner Andrew Reed to replace Matthew Miller on the board of âbuy now, pay laterâ company Klarna, according to people familiar with the matter. Miller had joined the board in January and recently led a failed effort to remove former Sequoia leader Michael Moritz from his position as Klarnaâs board chairman. On Tuesday, Miller and Sequoia retracted their request to remove Moritz as board chair, The... Read more âș
0
Former GitHub CEO Nat Friedman and his investment partner, Daniel Gross, raised eyebrows last week by writing a $100 million check to Magic, the developer of an artificial intelligence coding assistant. There are loads of coding assistants already, and the top dog among them is Microsoftâs GitHub Copilot. So what did Friedman and Gross see in Magic?The answer goes beyond the companyâs claim that it will soon be able to... Read more âș
8
ServiceNow is the rare technology company not to have laid off employees in the past 18 months. The software maker, whose $154 billion market capitalization outranks better-known brands such as Shopify and Snowflake, avoided layoffs by hiring prudently: Revenue has grown faster than headcount each year for at least a decade. Hiring slowed considerably in 2023, especially in human resources, finance, and other administrative functions, Chief People Officer Jacqui Canney... Read more âș
0
You might not have expected Klarna, the Sweden-based original âbuy now, pay laterâ lender, to be the setting for a âSuccessionâ-caliber soap operaâbut hey, Sweden also produces lots of dramas for streaming TV. The real-life one weâre talking about centers on Sequoia Capitalâs ham-handed efforts to remove its highly respected former partner, Michael Moritz, from Klarnaâs board, news of which we scooped last week. Today we broke the news that... Read more âș
0
Over the past few months, I've been hearing a lot more about ByteDance-owned CapCut, with many creators telling me they use the app as their main editing tool, which provides trendy templates and filters to spruce up videos. Some of this growth comes from its sister app TikTok, where users see videos made with CapCut and then get the app, making it the second most-downloaded free iPhone app in the... Read more âș
1
Sequoia Capital has retracted its request to remove Michael Moritz as chairman of Klarnaâs board, according to emails reviewed by The Information. Sequoia partner Matthew Miller, the director who in recent days had asked Klarna shareholders to remove Moritz, is leaving the Klarna board. Sequoia plans to appoint a new partner to the company's board in the coming days. In an email, Sequoiaâs chief Roelof Botha told Klarna shareholders that... Read more âș
1
Microsoft is taking another step to reduce its dependence on Nvidia. The software giant is developing a networking card to ensure that data moves quickly between its servers, as an alternative to one supplied by Nvidia, said a person with direct knowledge. In addition to potentially saving Microsoft money, the company hopes the new networking gear will improve the performance of its Nvidia chip servers. That could help OpenAI, which... Read more âș
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23.06.2026 14:44
Last update: 14:36 EDT.
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